# Companies Act 1948, Section 243: Custody of company's property.


(1) Where a winding-up order has been made or where a provisional liquidator has been appointed, the liquidator or the provisional liquidator, as the case may be, shall take into his custody or under his control all the property and things in action to which the company is or appears to be entitled.
(2) In a winding up by the court in Scotland, if and so long as there is no liquidator, all the property of the company shall be deemed to be in the custody of the court.

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Source: https://www.legislation.gov.uk/ukpga/Geo6/11-12/38/section/243 (the official version)
Page: https://openlegislation.uk/companies-act-1948/section-243
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.